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We have a freer world because of the collapse of the Soviet Union and the changes in China. Those two have been the main contributors to freedom in our time.
Milton Friedman
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Milton Friedman
Age: 94 †
Born: 1912
Born: July 31
Died: 2006
Died: November 16
Economist
Essayist
Statistician
University Teacher
Writer
Brooklyn
New York
Milton Fridman
Time
Soviet
World
Union
Unions
Main
China
Changes
Contributors
Freedom
Freer
Two
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More quotes by Milton Friedman
So the question is, do corporate executives, provided they stay within the law, have responsibilities in their business activities other than to make as much money for their stockholders as possible? And my answer to that is, no they do not.
Milton Friedman
The Depression, which started in 1929 was rather mild from 1929 to 1930. And, indeed, in my opinion would have been over in 1931 at the latest had it not been that the Federal Reserve followed a policy which led to bank failures, widespread bank failures, and led to a reduction in the quantity of money.
Milton Friedman
What works for Sweden wouldn't work for France or Germany or Italy. In a small state, you can reach outside for many of your activities. In a homogeneous culture, they are willing to pay higher taxes in order to achieve commonly held goals. But common goals are much harder to come by in larger, more heterogeneous populations.
Milton Friedman
The invisible hand in politics operates in the opposite direction to the invisible hand in the market.
Milton Friedman
Rich people are the experimental ground for every new development. The nature of progress is that what begins as a luxury for the rich becomes a necessity for the poor as it's developed and passed on.
Milton Friedman
What does it mean to say that government might have a responsibility? Government can't have a responsibility any more than the business can. The only entities which can have responsibilities are people.
Milton Friedman
Our emphasis here is based not only on the growing seriousness of drug-related crimes, but also on the belief that relieving our police and our courts from having to fight losing battles against drug use will enable their energies and facilities to be devoted more fully to combating other forms of crime.
Milton Friedman
What's the difference? How can people be so inconsistent? Why is it that free immigration was a good thing before 1914 and free immigration is a bad thing today? Well, there is a sense in which that answer is right. There's a sense in which free immigration, in the same sense as we had it before 1914 is not possible today. Why not?
Milton Friedman
The unions might be good for the people who are in the unions but it doesn't do a thing for the people who are unemployed. Because the union keeps down the number of jobs, it doesn't do a thing for them.
Milton Friedman
There is one and only one social responsibility of business - to use it resources and engage in activities designed to increase its profits so long as it stays within the rules of the game, which is to say, engages in open and free competition without deception or fraud.
Milton Friedman
History suggests that capitalism is a necessary condition for political freedom. Clearly it is not a sufficient condition.
Milton Friedman
No central banker would disagree with the proposition that inflation is primarily a monetary phenomenon. Not one of them will disagree that every inflation has been accompanied by a rapid increase in the quantity of money and every deflation by a decline in the quantity of money.
Milton Friedman
If the only motive was to help people who could not afford education, advocates of government involvement would have simply proposed tuition subsidies.
Milton Friedman
Political leaders in capitalist countries who cheer the collapse of socialism in other countries continue to favor socialist solutions in their own. They know the words, but they have not learned the tune.
Milton Friedman
A crackpot theory. Instead of saying labor's exploited, as Marx did, Kelso says capital's exploited. It's worse than Marx. It's Marx stood on its head.
Milton Friedman
The current oil crisis has not been produced by the oil companies. It is a result of governmental mismanagement exacerbated by the Mideast war.
Milton Friedman
If a country is an attractive place for foreigners to invest their funds, then that country will have a relatively high exchange rate. If it's an unattractive place, it will have a relatively low exchange rate. Those are the fundamentals that determine the exchange rate in a floating exchange rate system.
Milton Friedman
A society that puts equality — in the sense of equality of outcome — ahead of freedom will end up with neither equality nor freedom. The use of force to achieve equality will destroy freedom, and the force, introduced for good purposes, will end up in the hands of people who use it to promote their own interests.
Milton Friedman
Most of the energy of political work is devoted to correcting the effects of mismanagement of government.
Milton Friedman
Concentrated power is not rendered harmless by the good intentions of those who create it.
Milton Friedman
